Toyota’s vehicle assembly plant estimated at USD 200 mln

Yokohama – Toyota’s motor vehicle assembly plant is estimated at about USD 200 million in Angola, Japanese Multinational CEO Tchiro Kitaoka said Friday

The challenge for the construction of a Toyota assembly line in the country was launched by the President of Republic, JoAPound o Lourenco.

This was during an audience the statesman granted to Tchiro Kitaoka, on the sidelines of the Seventh Tokyo International Conference for Africa’s Development (TICAD7).

Speaking to the Angolan press at the end of the audience, Toyota CEO said that the value would be used for the acquisition of space and the construction of the assembly line and office buildings.

The Angolan statesman discussed with Toyota manager the projects the Japanese company is developing in Angola, mainly the rehabilitation, modernisation and expansion of Namibe Port.

Still on Friday, the President JoAPound o Lourenco took part in luncheon offered by Emperor Naruhito.

JoAPound o Lourenco participated in TICAD7 at the invitation of the Prime Minister of Japan, Shinzu Abe.

On the first day of the meeting, the President Joao Lourenco addressed a panel Accelerating Economic Transformation and Improving the Business Environment through Innovation and Private Sector Involvement.

The initiative is dedicated to the African leaders who participated in TICAD7, whose work ended that afternoon in Yokohama city.

On the occasion, JoAPound o Lourenco said that the Angolan Executive is implementing a broad programme to improve the business environment to attract domestic and foreign private investment.

He underlined that the Business Environment Improvement Programme, being implemented with the support of the World Bank has simplified procedures and reduced the time for the various public services provided to the private sector.

The head of state said that, with the support of the WB, the Angolan Government has embarked on comprehensive privatisation programme of companies and public assets until 2022.

He said that the privatisation process will ensure the promotion of economic growth by fostering private investment and increasing employment in the country.

Source: Angola Press News Agency